Month: August 2015

Misery for gold bugs as bullion fails a big test

Gold bulls piled into the metal in hopes that the turmoil sweeping financial markets would finally help revive prices. They were wrong. Instead of a rally, futures in New York fell for four straight sessions even as global equities plunged to a two-year low. Rather than providing a refuge from the meltdown, gold’s volatility rose right along with a measure of equity turbulence, diminishing its appeal as a haven. As stocks started to recover, the metal kept falling because of reports that signaled gains for the U.S. economy.

Arian Silver´s MD&A and Financial Statements for the Three and Six Months Ended 30 June 2015

Arian Silver’s Chief Executive Officer, Jim Williams, commented today, “The phased commissioning of the Company’s processing plant has been ongoing during the second quarter of the year.The commissioning process has highlighted the need for remedial work to the tertiary crusher which will result in a delay in completion of commissioning into Q4 this year, and a corresponding delay in mine development. The silver price has continued to fall this year, recently touching a six year low and current market consensus is for continued short-term weakness. Therefore, it has become clear that alterations to the mine plan will be required if profitable production is to be achieved in the current climate…”

Highvista Gold Inc. Announces Further Details of Its Change of Business Process Option and Provides a Corporate Update on Certain Mining Properties

“The Company is seeing a very interesting current market opportunity with the potential for equity growth and for yield and distributions, which we believe investors are looking for today. We see the potential to build a focused portfolio of investments in areas that are attracting expansion capital and could see attractive capital appreciation. These areas of focus also highlight the deal flow generation capability and extensive financial market experience of management and our Board of Directors and their respective networks” states Paul Crath, President and CEO.

Bacanora Announces Sonora Lithium Project Drilling Program and Updated Results

BACANORA MINERALS LTD. the London and Canadian listed lithium and borates company focused on Mexico, is pleased to announce that it has mobilized a second drilling rig to site and also provides an update on the drilling program currently being undertaken as part of the pre-feasibility study at its Sonora Lithium Project in Mexico.

Morro Bay Announces Release of Third Quarter Financial Results and Closes Second Tranche of Private Placement

John Zang, CEO of Morro Bay commented, “the first half of the year saw Morro Bay make significant strides forward. We were able to complete the exercise of the Option Agreement by which Morro Bay became an owner of 51% in the Peñoles Project and with our partner, Riverside Resources Inc., we reported an initial maiden resource estimate for the Jesus Maria Silver and El Capitan Gold zones at the Peñoles Project.”

AuRico Metals anuncia su financiación privada con Alamos Gold

AuRico Metals Inc. anuncia una financiación privada con Alamos Gold a través de la cual Alamos comprará 8.000.000 acciones de AuRico Metals a un precio de compra de acción de 0,70 dólares canadienses para unos beneficios totales de 5.600.000 dólares. Junto a las 5.767.855 acciones que Alamos ya tiene en AuRico Metals, Alamos ya controla el 10,9% de las acciones emitidas y destacadas de la compañía.

Alamos Announces Investment in Aurico Metals

Alamos Gold Inc. today announced the purchase of 8,000,000 common shares of AuRico Metals Inc., representing approximately 6.34% of the outstanding common shares of AuRico. The Shares are being acquired by Alamos by way of private placement at a price of C$0.70 per Share.

Apoya minera a la sociedad

El grupo Fresnillo PLC invirtió el año pasado cerca de 20 millones de pesos en acciones a favor de la comunidad, pese a la situación limitante por los precios de los metales, se espera que este año se tenga una inversión similar.

Catalyst Copper Closes Private Placement

Catalyst Copper Corporation announces that further to its press release of August 18, 2015 it has closed the non-brokered private placement of 3,300,000 units at a price of $0.10 per unit (increased by 300,000 units) for gross proceeds of $330,000. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable for one common share of the Company at a price of $0.15 for a period of five years from closing. Proceeds from the private placement will be used for general working capital purposes.

Great Panther Board Completes Review of Director Election Status

GREAT PANTHER SILVER LIMITED announces that its board of directors has determined that it is not in the best interests of the Company to accept the resignation submitted by Jeffrey Mason, who was elected at the Company’s Annual General Meeting of Shareholders held on June 4, 2015. Mr. Mason did not receive the support of the majority of the votes cast at the meeting. In accordance with the Company’s majority voting policy, Mr. Mason submitted his resignation to the Chairman of the Nominating and Corporate Governance Committee for consideration and acceptance or rejection at the discretion of the Board.

Goldgroup Issues 16.5 million Common Shares to Oroco Resource Corp. and Promissory Note Update

Goldgroup Mining Inc. has issued 16,500,000 common shares to Oroco Resource Corp. with respect to the acquisition of the Cerro Prieto project purchased in 2013 (see news release dated September 3, 2013). As part of the purchase agreement, the Company committed to issue 16,500,000 of its common shares or, at its option, pay US$4,125,000 to Oroco on or before August 30, 2015. The Company has elected to issue the common shares as opposed to cash settlement.

Bacanora Provides Clarification Statement

At the request of the Investment Industry Regulatory Organization of Canada, Bacanora is providing this clarification statement in connection with its press release dated August 27, 2015 wherein it announced the entering into of a supply agreement among Bacanora, Rare Earth Minerals plc and, Tesla Motors, Inc., the maker of electric vehicles and energy storage solutions. In that earlier release, the Company referred to the design and construction of a mine and processing facility with an initial estimated production capacity of 35,000 tonnes of lithium compounds, with the scaling potential of up to 50,000 tonnes per annum. It should be noted that the foregoing estimates are internal…

Tesla Begins Gigafactory Sourcing with Lithium Supply Deal

A new lithium project in northern Mexico has received the first seal of approval to supply the Tesla Motors Gigafactory.London-based Bacanora Minerals and Rare Earth Minerals have received the go-ahead to supply lithium hydroxide to Tesla’s lithium-ion battery megafactory from its clay deposit in Mexico’s north-west.

Americas Silver Corporation. Announces Completed Private Placement

The aggregate gross proceeds of the private placement were approximately CDN $2 million and were received prior to closing. The Company issued 11,027,555 units at a price of CDN $0.18 per Unit, with 5,555,555 Units allocated to the non-brokered portion and 5,472,000 Units allocated to the brokered portion of the offering. Each Unit consists of one common share and one half of one common share purchase warrant. Each whole Warrant entitles the holder to acquire one common share at an exercise price of CDN $0.25 for a period of 36 months from the close of the placement.

First Majestic and SilverCrest Announce Receipt of Interim Order

First Majestic Silver Corp. and SilverCrest Mines Inc. are pleased to announce that SilverCrest has been granted an interim order from the Supreme Court of British Columbia authorizing various matters, including the holding of a special meeting of SilverCrest shareholders to consider the previously announced arrangement among First Majestic, SilverCrest and SilverCrest Metals Inc. and the mailing of a joint management information circular.

Santacruz Silver Reports Second Quarter 2015 Financial Results

“During the second quarter the Rosario Mine made a solid comeback in terms of operational performance. Head grades are much improved at close to 322 g/t silver equivalent largely as the result of well managed dilution control. These improvements in addition to other cost control initiatives have brought our costs down 18% to AISC $16.86/oz silver equivalent when compared to the previous full quarter of operations.” said Arturo Préstamo, President and CEO….

Kootenay Closes Non-Brokered Private Placement

Kootenay Silver Inc. is pleased to announce that, further to its press release dated July 16, 2015 and August 11, 2015, it has closed its non-brokered private placement and issued an aggregate of 800,000 units at a purchase price of $0.30 per Unit raising gross proceeds to the Company of $240,000, including the initial tranche an aggregate gross proceeds raised to the Company is $1,315,950.

Defiance Continues to Intercept Wide Zones of Mineralization at San Acacio

Bruce Winfield, President & CEO of Defiance stated, “We are very pleased that the results continue to include wide widths of strong silver mineralization on the main San Acacio vein up to 190m below the current resource limit. The discovery of new veins is exciting with four of the eight holes drilled to date intersecting multiple veins with potential to increase the resource as well. We also have identified a later Phase II mineralization that is enriched in gold-zinc-lead relative to the historical production at the San Acacio Mine. These exciting results encourage us to continue drilling to expand the zone of mineralization both along strike and down dip.”

Cobre reanuda caída ante persistente preocupación sobre la demanda

El precio del cobre caía un 2.5% hoy, borrando las ganancias de la sesión anterior, en medio de preocupaciones de que los recortes a las tasas de interés en Pekín puedan no ser suficientes para evitar la desaceleración en la economía global liderada por China.

Red Tiger Mining Inc. Reports Quarter Ended June 30, 2015 Results

Comex Grade 1 Copper cathodes production of 360 tonnes for the three months ended June 30, 2015.

Copper sales of $2,247,410 for the three months ended June 30, 2015 at an average realized price of $2.83 per copper pound.

Total cash costs per copper pound of $1.61 and average realized margin of $1.22 per copper pound for the three months ended June 30, 2015.

Net loss of $1,935,638 or $0.02 per share for the three months ended June 30, 2015.

USPR Announces New Mineralized Zones and Expansion of Existing Mineralized Zones

Based upon information obtained to date (20 drill holes cored and assayed), USPR has identified 1 new area of mineralization and expanded 3 areas of known mineralization. The new area is approximately 100 meters east of the “Main Zone,” and called the “East Zone.” Definitional drilling also extended known mineralization in the “Main Zone,” “West Zone,” and the “Northwest Zone.”

IMPACT Silver Announces Second Quarter 2015 Financial and Production Results

The Company’s strategy of focusing on higher grade mill feed on both the exploration and production fronts is proving effective. The Cuchara-Oscar Mine is now providing 48% and the San Ramon Deeps Mine, discovered and opened in 2014, is contributing 40% of the total mill feed to the Guadalupe Production Centre, which is now averaging for the six months 185 grams per tonne (“g/t”) silver. The Company’s objective continues to be to increase the overall silver head grade in the Zacualpan District in 2015 while controlling operating and exploration costs at the site.

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